Kenneth Arrow and Karl Borch published several important articles in the early 1960s that can be viewed as the beginning of modern economic analysis of insurance activity. This chapter reviews the main theoretical and empirical contributions in insurance economics since that time. The review...

The eight essays in Insurance, Risk Management, and Public Policy encompass the economic and financial theory of insurance, insurer and corporate risk managment, and insurance regulation. These essays will be of broad interest to researchers in the area of insurance economics, finance, and risk...